Claremont Homes Real Estate Numbers
Article by Lori English
Claremont, a college town in eastern Los Angeles county, has real estate prices on the downward spiral. According to the Los Angeles MLS database (MRMLS), single family residence home data shows that median prices in December 2009 are down 18% from that of December 2008. It?s truly more of a buyer?s market, as incredible deals are found in this quaint city.
Data released for the month of December show that the home recovery has not yet occurred in this Los Angeles city. The median price paid for these homes was 5,000 in December 2008 and 0,000 December of 2009. This was a very disappointing year for Claremont.
The declining prices in Claremont are creating more buyers desiring real estate in this area. There are factors attributing to the continuing downward spiraling of home prices. The number of foreclosure sales as a percentage of the entire resale market has continued to drop since the peak in February 2008. In Claremont, foreclosures will continue to be in large numbers for years, but not nearly as high as in 2010. The foreclosures are still maintaining a large level of activity, with homeowners still unable to afford mortgages on homes with negative equity.
It is recommended that first time home-buyers take advantage of the ,000 Home-Buyer Tax Credit that is still in effect. For Claremont, this is an especially good time to purchase a home due to it?s low prices and desirable area. In July 2007 Claremont was rated by CNN/Money magazine as the fifth best place to live in the United States, and was the highest rated place in California on the list. Be sure to act fast though, as there will be bidding wars in the next few months as the current ,000 tax credit will most likely be coming to it?s end. The inventory level in Claremont is lower compared to last year, so you?ll be seeing more buyers out there attempting to get that great price.
The Average Days on Market for December 2009 is currently at 57 days, in comparison to 107 days back in December 2008. This is a dramatic decrease of 47%. Numbers like this will typically aide in rising prices the near future, as usually less days on market will turn into a bit of a seller?s market. If seller?s of Claremont homes set their home price correctly and have their home in good shape for their buyers, they will be able to sell their homes even in this uncertain home market.The Claremont Monthly Supply of Inventory has decreased rapidly since last year. In December 2008, there was a 13.9 month supply of home versus in December 2009 a 4.1 month supply of homes. This means that there was a large 71% decrease in inventory.
The Supply and Demand has also decreased more than most expected. The total homes for sale in December 2009 declined 32% from the same period last year. In December 2008, there were 139 homes for sale compared to only 94 homes in December 2009. The numbers for sold houses for the same period was 15 for December 2008 compared to December 2009 of 17.
The year 2010 will hopefully be a better year for Claremont real estate. The economy is due to improve, hopefully the real estate numbers will prove that as well. Investors and first-time homebuyers are continuing to play an important factor in this real estate market. The ,000 Home-Buyer Tax Credit is due to end in Spring, with buyers competing for homes that may drive the Claremont real estate prices a little higher.
About the Author
Lori English is a real estate broker and internet business woman. As a web expert, she writes for lookiehomesla.com, mlmwebzoom.com, as well as other business opportunity websites. With her experience, certificates, and degrees, she understands real estate, the internet business, and how to invest in properties.
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Source: http://www.hotmlmprospects.com/blog/claremont-homes-real-estate-numbers/
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